This website contains statements and graphs ("statements") that contain "forward-looking information" within the meaning of the applicable securities legislation. These statements include, among others, statements regarding the estimated amount of reserves and resources recoverable; the Syncrude production outlook; estimates of future sales and operating expenses; outlook on oil and gas prices; all expectations regarding the level of future dividends; the establishment of future dividend levels with the intent of absorbing short-term market volatility over several quarters; the expectations with respect to the reclamation of the East and West Mine areas; all expectations regarding the implementation of the centrifuge technology; plans for Syncrude to reduce water intake and increase recycled water use; the expected benefits of the tailings management consortium; the plans regarding energy efficiency and other expectations, beliefs, plans, goals, objectives, assumptions or statements about future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "estimated", "forecasts", or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved).

You are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will not occur. Although Canadian Oil Sands believes that the assumptions and expectations represented by such forward-looking statements are reasonable and reflect the current views of Canadian Oil Sands with respect to future events, there can be no assurance that such assumptions and expectations will prove to be correct.

The factors or assumptions on which the forward-looking information is based include, but are not limited to: the assumptions outlined in Canadian Oil Sands’ guidance document as posted on this website as of the date hereof and as subsequently amended or replaced from time to time, including without limitation, the assumptions as to production, operating expenses and oil prices; the successful and timely implementation of capital projects; Syncrude's major project spending plans; the ability to obtain regulatory and joint venture owner approval; our ability to either generate sufficient cash flow from operations to meet our current and future obligations or obtain external sources of debt and equity capital; the continuation of assumed tax, royalty and regulatory regimes and the accuracy of the estimates of our reserves and resources volumes.

Some of the risk and other factors which could cause actual results or events to differ materially from current expectations expressed in the forward-looking statements contained on this website and in the documents on this website include, but are not limited to: volatility of crude oil prices; volatility of the SCO to WTI differential; the impact that pipeline capacity and apportionment and refinery demand have on prices for SCO; the impacts of regulatory changes especially those which relate to royalties, taxation, tailings, water and the environment; the impact of new technologies on the cost of oil sands mining; the impacts of rising costs associated with tailings and water management; the inability of Syncrude to obtain required consents, permits or approvals, including without limitation, the inability of Syncrude to obtain approval to release water from its operations; the impact of Syncrude being unable to meet the conditions of its approval for its tailings management plan under Directive 074; various events which could disrupt operations including fires, equipment failures and severe weather; unsuccessful or untimely implementation of capital or maintenance projects; the impact of technology on operations and processes and how new complex technology may not perform as expected; the obtaining of required owner approvals from the Syncrude participants for expansions, operational issues and contractual issues; labour turnover and shortages and the productivity achieved from labour in the Fort McMurray area; uncertainty of estimates with respect to reserves and resources; the supply and demand metrics for oil and natural gas; the variances of stock market activities generally; currency and interest rate fluctuations; volatility of natural gas prices;Canadian Oil Sands’ ability to either generate sufficient cash flow from operations to meet our current and future obligations or obtain external sources of debt and equity capital; general economic, business and market conditions and such other risks and uncertainties described in Canadian Oil Sands’ Annual Information Form dated February 24, 2015 and in the reports and filings made with securities regulatory authorities from time to time by Canadian Oil Sands which are available on Canadian Oil Sands’ profile on SEDAR at www.sedar.com and on Canadian Oil Sands’ website at www.cdnoilsands.com.

You are cautioned that the foregoing list of important factors is not exhaustive. Except as required by law, Canadian Oil Sands does not undertake any obligation to update publicly or revise any of the forward-looking statements, whether as a result of new information, future event, or otherwise. The forward-looking statements contained on this website are expressly qualified by this cautionary statement.

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The four deposits, Athabasca, Peace River, Cold Lake and Wabasca, have total resource in place estimated at 1.7 trillion to 2.5 trillion barrels. The Athabasca Oil Sands deposit, Alberta's largest and most accessible source of bitumen, contains more than one trillion barrels of bitumen over an area encompassing more than 30,000 square kilometers.

The molasses-like substance that comprises up to 18 per cent of oil sands. Bitumen, in its raw state, is black, asphalt-like oil. It requires upgrading or blending to make it transportable by pipeline and usable by conventional refineries.

Bitumen cracking

A process that breaks large, complex hydrocarbon molecules into smaller, simpler compounds by means of heat.

A non-toxic gas produced from decaying materials, respiration of animal life, and combustion of organic matter, including fossil fuels; carbon dioxide is the most common greenhouse gas produced by human activities.

Cokers

Vessels in which bitumen is cracked into its fractions and from which coke is withdrawn to start the process of converting bitumen to upgraded crude oil.

Conventional oil

Petroleum found in liquid form, flowing naturally, or capable of being pumped without further processing or dilution.

Cyclofeeder

Specialized equipment that receives oil sand feed and turns it into a slurry form for transport to the pump box.

A major part of the upgrading process whereby high temperatures in a coker break down the complex bitumen molecules, reject carbon and cause bitumen molecules to reformulate into lighter fractions that become the main ingredients in upgraded crude oil.

A combination of water, sand, silt, fine clay particles and residual hydrocarbon that is a by-product of removing bitumen from oil sand.

Tailings systems

Separation of water from sand and clay to enable incorporation of solids into reclamation landscapes and recycling of water back into the operations.

Tar sands

Oil sands are also referred to as tar sands. Oil sands are a naturally occurring combination of clay, sands, water and bitumen (a heavy, black viscous oil), whereas tar is a man-made substance.

Total volume to bitumen in place (TV/BIP)

The ratio of total ore plus overburden volume to total bitumen in place.

Turnaround

A unit shutdown essential for good maintenance of the mining, producing and upgrading facilities. A turnaround reduces production but does not usually halt it entirely as the various operating units are often duplicated.